British International Investment, the UK government’s development finance arm, is planning to invest USD 6 bn in Africa over the next five years, with a substantial portion earmarked for debt and equity financing in “powerhouse markets” like Egypt, Nigeria, Kenya and Ethiopia, BII CEO Nick O’Donohoe told Bloomberg.
This is part of a wider USD 10 bn program of investment that will be deployed around the world as well as an Africa strategy announced last year that will see it support climate finance and green infrastructure across the continent.
New Africa investment fund receives BII money: The BII has become an anchor investor in a USD 500 mn African infrastructure fund being raised by African Infrastructure Investment Managers (AIIM), it announced yesterday.
The lender has contributed USD 76 mn to the fund, which will invest in infrastructure, with at least 20% being deployed to green projects. FMO and AIIM sponsor Old Mutual are also limited partners, while the European Investment Bank is considering a USD 75 mn ticket.
